CIK 1058811
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Specialty Retail | 69.50% | 2 |
| Real Estate Management & Development | 9.34% | 1 |
| Software | 7.43% | 1 |
| Commercial Services & Supplies | 5.36% | 2 |
| Household Durables | 4.40% | 1 |
| Semiconductors & Semiconductor Equipment | 2.68% | 1 |
| Unclassified | 1.30% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | BNED | Barnes & Noble Education, Inc. | Consumer Discretionary | 68.40% |
| 2 | FPH | Five Point Holdings, LLC | Real Estate | 9.34% |
| 3 | XPER | Xperi Inc. | Information Technology | 7.43% |
| 4 | RMNI | Rimini Street, Inc. | Industrials | 4.74% |
| 5 | UEIC | UNIVERSAL ELECTRONICS INC | Consumer Discretionary | 4.40% |
| 6 | MX | MAGNACHIP SEMICONDUCTOR Corp | Information Technology | 2.68% |
| 7 | BXSL | BLACKSTONE SECD LENDING FD | Unclassified | 1.30% |
| 8 | PLCE | Childrens Place, Inc. | Consumer Discretionary | 1.10% |
| 9 | ALIT | Alight, Inc. / Delaware | Industrials | 0.61% |
8/9 names classified · sector 98.7% of weight · industry 98.7% · mkt cap 89.4%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 98.7% of the book is sector-classified (unclassified names shown, never dropped).
Only 6% of book weight classified — the grid is NOT representative of the whole book.
Classified: 6.5% of book weight (3/9 names) · unclassified 93.5%: BNED, FPH, XPER, UEIC, MX, BXSL. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | BNEDBARNES & NOBLE ED INC | 11,208,746 | $99M | 68.4% | HOLD |
| 2 | FPHFIVE POINT HOLDINGS LLC | 2,793,081 | $14M | 9.3% | HOLD |
| 3 | XPERXPERI INC | 1,918,735 | $11M | 7.4% | ADD 3% |
| 4 | RMNIRIMINI STR INC DEL | 2,093,079 | $7M | 4.7% | ADD 298% |
| 5 | UEICUNIVERSAL ELECTRS INC | 1,544,647 | $6M | 4.4% | HOLD |
| 6 | MXMAGNACHIP SEMICONDUCTOR CORP | 1,383,402 | $4M | 2.7% | TRIM −26% |
| 7 | BXSLBLACKSTONE SECD LENDING FD | 79,204 | $2M | 1.3% | HOLD |
| 8 | PLCECHILDRENS PL INC NEW | 473,953 | $2M | 1.1% | HOLD |
| 9 | ALITALIGHT INC | 1,521,831 | $886,771 | 0.6% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| BNEDBARNES & NOBLE ED INC | 11.0M | 11.2M | 11.2M | 11.2M | 11.2M | 11.2M | $99M |
| FPHFIVE POINT HOLDINGS LLC | 2.9M | 2.9M | 2.9M | 2.9M | 2.8M | 2.8M | $14M |
| XPERXPERI INC | — | 347K | 603K | 1.1M | 1.9M | 1.9M | $11M |
| RMNIRIMINI STR INC DEL | — | — | — | — | 526K | 2.1M | $7M |
| UEICUNIVERSAL ELECTRS INC | 1.5M | 1.5M | 1.5M | 1.5M | 1.5M | 1.5M | $6M |
| MXMAGNACHIP SEMICONDUCTOR CORP | 3.0M | 3.0M | 3.2M | 2.7M | 1.9M | 1.4M | $4M |
| BXSLBLACKSTONE SECD LENDING FD | — | — | — | 59K | 79K | 79K | $2M |
| PLCECHILDRENS PL INC NEW | — | — | 571K | — | 474K | 474K | $2M |
| ALITALIGHT INC | — | — | — | — | — | 1.5M | $886,771 |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
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